Business, Companies, 28th Mar 2019, News & Stories from India

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Business Companies 28 Mar 2019

Business, Companies, 28 Mar 2019

A bench of Justices R F Nariman and Vineet Sharan said, "All interlocutory applications seeking stay are dismissed". (Photo: File | ANI)

SC refuses to stay merger of Vijaya, Dena banks with BOB

Supreme Court dismissed the applications filed by several bank officers' associations for staying the merger, effective April 1.

28 Mar 2019 6:43 PM

Lulu Group intends to maintain a similar investment momentum in the UAE and Saudi Arabia, its core markets, this year. (Photo: Representational Image | PTI)

UAE-based group to expand in India with two more new malls

We have acquired an ongoing mall development in Bengaluru and will build our own in Chennai, said Yousuf Ali, CMD of Lulu Group.

28 Mar 2019 5:30 PM

"The infusion of additional capital by the proposed acquirer/ Government of India is stated to enable the target company (Punjab National Bank) to meet the stipulated capital adequacy norms. Accordingly, I am of the considered view that exemption as sought for in the application made by the target company, be granted to the proposed acquirer/ GOI...," Sebi Whole Time Member G Mahalingam said in an order on Wednesday.

Sebi exempts govt from making open offer for shareholders of PNB

Sebi, however, directed reduction in non-public shareholding in the lender post capital infusion.

28 Mar 2019 4:03 PM

Infosys said mortgage services is a focus area for large corporations in the financial sector, given the importance of the asset on a bank's balance sheet.

Infosys to acquire 75 pc stake in ABN AMRO Bank subsidiary for 127.5 mn euros

Infosys will acquire 75 per cent shareholding in Stater, while ABN AMRO will continue to hold remaining 25 per cent.

28 Mar 2019 3:17 PM

PFC has raised money from Bank of Baroda, Life Insurance Corporation and State Bank of India, among others, to make the payment.

PFC completes REC acquisition, pays Rs 14,500 cr to government

The transaction has helped the government meet its disinvestment target of Rs 80,000 crore for the current financial year.

28 Mar 2019 2:30 PM

Bandhan Bank MD and CEO Chandra Shekhar Ghosh.

Bandhan Bank to give a big push to affordable housing

Bandhan Bank deposits touched Rs 34,639 crore and loan book at Rs 35,599 crore.

28 Mar 2019 1:40 PM

The merger of Dena Bank and Vijaya Bank with BoB would be effective from April 1.

Govt to infuse Rs 5,042 crore into Bank of Baroda

The capital infusion will be by way of preferential allotment of equity shares of the bank during FY2018-19.

28 Mar 2019 12:02 PM

Both the e-bikes come with lockable battery pack which makes it very convenient to charge & carry.

GoZero Mobility enters Indian electric vehicle space

GoZero One is powered with 400Wh lithium battery pack which is optimized to provide 60 Kms of range on single charge.

28 Mar 2019 10:40 AM

Pine Labs branded point-of-sale terminals in offline stores can be used by merchants to process Google Pay using a secure, two-step process.

Pine Labs collaborates with Google Pay in India

Google can have access to over 3,30,000 point-of-sale terminals in over 3000 towns in India.

28 Mar 2019 10:16 AM

Mehul Choksi accuses PNB of 'maliciously' creating case against him

Choksi had sought to correct the details of this KYC on several occasions but to no avail.

28 Mar 2019 9:48 AM

Against this backdrop, the bank sought Sebi's exemption from the open offer requirement for the government.

Sebi exempts govt from making an open offer for shareholders of PNB

Listed companies are required to have at least 25 per cent public shareholding.

28 Mar 2019 8:57 AM

The investment of Rs 8,000 crore will comprise Rs 1,000 crore equity infusion in GMR Airports and Rs 7,000 crore towards purchase of GMR Airports’ equity shares from GMR Infrastructure and its subsidiaries.

Tatas to enter airport biz with GMR stake buy

Deal will help the company cut its debt and also provide an exit for private equity investors.

28 Mar 2019 1:57 AM

According to the Rs 3,965.06-cr resolution plan by Sanghi, Rs 50 cr would be paid upfront, followed by Rs 75 cr over the next 12 months and the remaining in staggered payments over the next in 15 years.

Jyoti Structures goes to Sharad Sanghi

Sanghi's resolution plan was voted by 62.66 per cent of lenders, while 23.12 per cent voted against, and 14.21 per cent abstained.

28 Mar 2019 12:55 AM

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Anita Katyal